We are looking for short positions on this trade as we are still trading within the downtrend.
We could see the market break a bit to the downside if the markets break the 1.20500 area and start to head towards the 1.19000 area and possibly the 1.18500 area.
Note: please do your own analysis before entering the position.
If you are looking to enter the market, drop down to a lower TF and wait for your confirmations to be met before entering, using the correct risk management.